Atlantic City, New Jersey’s fiscally distressed gambling hub, has hired public finance attorneys to restructure some of its $240 million of outstanding bond debt, Mayor Don Guardian said on Tuesday. New Jersey law firm McManimon, Scotland & Baumann will work on reducing the city’s debt load, much of which it took on to pay back…
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ET INTELLIGENCE GROUP: The sale of South African business will help Tata Communications quicken the process of paring its debt. On Tuesday, the data services and IT infrastructure provider announced that it has entered into an agreement with Liquid Telecom, a pan-African telecom group to sell its entire 67% stake in the South African subsidiary…
A second successive drop in TAFE enrolments across WA has been blamed on the State Government’s decision to raise course fees three years ago. Figures released this week reveal 2015 enrolments fell four per cent or 5,658 students on 2014 numbers. That followed a nine per cent decrease in the wake of the fee…
Several Australian lawyers are climbing the ranks at Baker & McKenzie, Henry Davis York and Norton Rose Fulbright, following the firms’ latest round of global promotions. Lawyers have been promoted across the nation, with Baker & McKenzie, HDY and NRF announcing the latest partner, senior counsel and senior associate promotions,…
Updated June 28, 2016 8:32 a.m. ET Dow Chemical Co. DOW -2.43 % on Tuesday said it planned to cut 2,500 jobs globally, or about 4% of its workforce, as it restructures Dow Corning Corp., which it now owns completely. Earlier this month, Corning Inc. had exchanged shares of silicone company Dow Corning for cash…
CHARLOTTE, N.C.–(BUSINESS WIRE)–Babcock & Wilcox Enterprises, Inc. (B&W) (NYSE:BW) today announced actions to proactively restructure its traditional power business in advance of a lower projection for U.S. coal generation and has updated guidance for 2016 to reflect: The net impact of the restructuring and decreased coal-related revenue in the second half of 2016. A charge…
Western Australia will not join the other states and allow pokies in pubs but the state government is divided on whether to allow an expansion of other gambling products as part of its sale of the TAB. Both Premier Colin Barnett and Racing and Gaming Minister Colin Holt firmly ruled out allowing pokies to be…
Like this story, share it with millions of investors on M3 Neotel deal to help cut debt; data biz to be in focus: Tata Comm While Neotels debt will be reduced, the core debt of group will come down by USD 50 million post the…
KUALA LUMPUR: RHB Banking Group completed its corporate restructuring exercise when RHB Bank Bhd assumed the listing status of RHB Capital Bhd on the main market of Bursa Malaysia today. At the opening bell, its shares opened at RM4.64, a discount of five sen against the reference price of RM4.69, with 4,100 shares changing hands. RHB Cap was…